As Britain gets out the bunting for the Diamond Jubilee celebrations,
Australia is locked in a fierce debate over whether it wants to retain the
Queen as its head of state.

But British fund managers show no such doubts about the attractions of buying
stocks in this Old Commonwealth country. After years of avoiding shares from
Down Under, many are now participating enthusiastically in Australia’s
resources-led boom.

In the latest in a series of articles examining the role of politics in
investment, we look at how Australia has been changing from a very
Western-facing, Anglo-centric country into one where links